Is a SIEM solution going to break the bank for my business?
Formatting readable data has for a long time been seen as a costly, time-intensive project beset by roadblocks. However the next generation of SIEM solutions have been hailed as a cost effective, more flexible and scalable and more accessible to small business. But let’s go back a step for a second. What exactly is a SIEM solution, and why on earth does your small to mid sized company need it?
Security information and event management, or SIEM for short, is an early warning system for possible incidents. Think of SIEM like panning for gold: this is about throwing out the rocks and picking the nuggets of information that could indicate a breach. It can be a hugely valuable tool in your companies IT Security arsenal, scouting out threats in the early stages before they become bigger, uglier events.
If your company deals with sensitive information, or holds information regarding customers, a SIEM solution of some scale will be a great addition to your IT Security system. It might also be mandatory to make your company data protection compliant. The question of size of company, or number of events on a network isn’t as relevant as the size of the the risks posed to your network. Would a cyber security breach have the potential to put your company out of business? If so, you might want to think about a SIEM.
How does SIEM work?
SIEM tools can give a level of automation and machine learning to your Log Management protocol. This can help your IT team focus on the activities in early development which may turn into threats/breach as opposed to manually having to dig through logs and find certain activities or patterns. A SIEM solution can learn over time which threats/activities are most significant to your business.
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